MANAMA, 5 May 2004 — Global Investment House (Global) held a reception at Ritz Carlton Hotel here on Monday to mark the inauguration of its Bahrain office. Senior government officials, businessmen, general managers of financial institutions and top executives of Bahraini companies attended the event.
“Global has taken the decision to open its first office outside Kuwait in Bahrain due to its position on the financial map,” said Global Chairman Anwar A. Al-Nouri in his welcome address. “Bahrain is chosen because it is the preferred financial center and a place where every financial institution should be,” he said.
Al-Nouri added that since its establishment in 1998, the aim of Global has been to become a regional company working with international standards. We started in Kuwait and were able to add a lot to that market by playing a major role in developing and enhancing the capital market.
Al-Nouri explained that Global made its contribution in changing the Kuwaiti capital market from an individual to an institutional market, and succeeded in launching unique and innovative investment instruments there, such as Global Al-Ma’amoun Fund, the first investment tool with two classes of units. These tools also contributed in creating a local competitive market and making a radical change in offering a variety of financial instrument to clients.
Today Global manages six investment funds in the local market with assets exceeding $950 million.
Global, he claimed, was the first to offer research and analysis about listed companies, various sectors and the Kuwaiti economy, which were highly appreciated by concerned people.
“In addition, we have launched the Global Index for the Kuwait Stock Exchange. Our research analysis was not confined to the Kuwaiti market alone, but covered Saudi Arabia, Bahrain, Oman and Qatar, noticing that we were the first to issue a study on the Iraqi Economy after the liberation of Iraq in April 2004,” Al-Nouri said.
Global has today a specialized department for research and analysis manning a large number of financial analysts.
